Economic TimesLean R·
Rate reset clause in overseas loan pact helps Shriram Finance cut costs
MUMBAI: Rating-linked repricing clauses tied to improving credit profiles are likely to feature more frequently-and prominently-in overseas fundraising deals after Shriram Finance, India's second-most-valued non-bank lender, secured a reduction in borrowing costs following a ratings upgrade.Lenders typically charge more for subsequent downgrades following fundraising, but an upgrade rarely makes a noticeable difference to costs.The upgrade helped Shriram, in which Japan's Mitsubishi UFJ Financi…
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